Essential Functions: Job PurposeReporting to the Assistant Vice President Treasury, the Associate Director, Endowment Management is responsible for managing the investment accounting and related activities for Wayne State University's endowment and planned giving funds. Activities include investment administration, investment accounting and financial/special reporting and the related planned giving activities. Acts as a liaison to, and provides daily operational oversight to the Outsourced Chief Investment Officer (OCIO).Essential FunctionsPrepares monthly, quarterly and annual investment journal entries, reports, statements and reconciliations. Reconciles investment manager and bank custody account statements. Records financial transactions into the University's accounting system, including quarterly distributions of spendable endowment income, quarterly unitization processes, transfers of funds between accounts, liquidation of donor gifts, annuity payments and processing activities.Provides operational oversight to the Foundation's OCIO. Provides financial information and analysis summarizing investment activity and the financial condition of the total endowment fund to the Foundation Board, the Investment Committee, Wayne State University Board of Governors, and other constituencies. Provides staff support to the Wayne State University Foundation Board and the Investment Committee.Oversees University investment accounting and transaction processing. Performs cash flow analysis to determine appropriate amount of fund liquidity necessary to meet the short-term obligations of the Foundation endowment fund, ensuring compliance with investment related policies. Short-term obligations of the endowment fund include distributions of spendable endowment income to spending/beneficiary accounts, fees. Documents investment accounting processes.Prepares annual surveys (e.g. NACUBO) and other annual and ad hoc requests for investment data, including requests from Development Office, Schools/Colleges/Divisions.Prepares tax, various regulatory, agency, University and donor routine and ad hoc reports.Coordinates the Endowment Fund's investment program materials and information for distribution to, and use by the Foundation Board, the Board Investment Committee and the University Board of Governors.Assists in administration, accounting, and reporting for planned gifts and trusts. Reviews, analyzes, reports and makes recommendations regarding proposed planned gifts (other than insurance) and related program proposals.Provides leadership and day-to-day supervision to assigned professional staff. Coaches, counsels and trains staff in appropriate bookkeeping and accounting principles and methods. Answers questions and resolves problems as needed.Perform other related duties as assigned.
Qualifications: Education: Bachelor's degree in accounting required; Certified Public Accountant (CPA) preferred.Experience:Minimum five - seven years of non-profit accounting experience in progressively responsible roles. Experience in accounting for complex investment portfolios, including equity and fixed income securities, venture capital, real estate, and derivatives. Experience in applying and overseeing the application of proper book and market value accounting rules.Knowledge, Skills and AbilitiesSolid knowledge of GAAP and GASB; solid knowledge of endowment investment accounting and fund accounting with the ability to develop a solid understanding of the University's Foundation's investments. Solid knowledge of planned gift accounting. Knowledge of UPMIFA. Solid knowledge of unitization process and activities. Proven ability to apply broad conceptual judgement, initiative, and ability to deal with complex accounting issuesSolid ability to research, analyze, apply logic and solve problems, organize, manage and prioritize multiple tasks simultaneously, understand and communicate financial processes and procedures. Detail orientated and accuracy-focused.Excellent interpersonal, communication and organizational skills with the ability to work effectively both independently and as a productive member of a team.Proven ability of developing spreadsheets and using databases for analysis and operational support.Computer proficiency required especially as related to Microsoft Office products, including Word, PowerPoint, Excel, Outlook, and accounting software.WORKING CONDITIONSWeekend and evening hours based on business needs required. Limited out-of-state travel to conferences and training required. Ability to travel across campus.
Internal Number: 76_206619
About Wayne State University
Founded in 1868, Wayne State University is a nationally recognized metropolitan research institution offering more than 400 academic programs through 13 schools and colleges to nearly 32,000 students. Wayne State?s main campus in Midtown Detroit comprises 100 buildings over nearly 200 acres; its five extension centers offer higher education to people throughout Southeast Michigan. Wayne State is dedicated to preparing students to excel by combining the academic excellence of a major research university with the practical experience of an institution that by its history, location and diversity represents a microcosm of the world we live in. Reflecting its location and the excellent international reputation of its graduate schools, particularly in the sciences, Wayne State boasts the most diverse student body among Michigan?s public universities. Its students represent 49 U.S. states and more than 60 countries.